Evercore ISI Issues Positive Forecast for BlackRock (NYSE:BLK) Stock Price

BlackRock (NYSE:BLK) had its price objective boosted by investment analysts at Evercore ISI from $1,040.00 to $1,160.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the asset manager’s stock. Evercore ISI’s price target would suggest a potential upside of 12.64% from the company’s current price.

A number of other equities research analysts also recently commented on BLK. Argus raised their price objective on shares of BlackRock from $880.00 to $910.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. StockNews.com began coverage on shares of BlackRock in a research report on Tuesday. They issued a “hold” rating for the company. The Goldman Sachs Group raised their price objective on shares of BlackRock from $960.00 to $1,040.00 and gave the company a “buy” rating in a research report on Thursday, October 3rd. JPMorgan Chase & Co. raised their price objective on shares of BlackRock from $864.00 to $914.00 and gave the company a “neutral” rating in a research report on Monday, October 21st. Finally, Barclays raised their price objective on shares of BlackRock from $1,010.00 to $1,120.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $1,004.54.

BlackRock Trading Up 1.5 %

Shares of BlackRock stock opened at $1,029.82 on Thursday. The company has a fifty day simple moving average of $947.54 and a 200-day simple moving average of $857.04. The stock has a market cap of $152.55 billion, a price-to-earnings ratio of 25.42, a PEG ratio of 1.77 and a beta of 1.30. The company has a current ratio of 5.06, a quick ratio of 5.06 and a debt-to-equity ratio of 0.37. BlackRock has a 12-month low of $646.91 and a 12-month high of $1,057.51.

BlackRock (NYSE:BLK) last announced its earnings results on Friday, October 11th. The asset manager reported $11.46 earnings per share for the quarter, topping the consensus estimate of $10.42 by $1.04. BlackRock had a net margin of 31.37% and a return on equity of 15.52%. The business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.03 billion. During the same quarter in the prior year, the firm earned $10.91 earnings per share. The business’s quarterly revenue was up 14.9% compared to the same quarter last year. On average, equities analysts forecast that BlackRock will post 42.94 EPS for the current fiscal year.

Insider Transactions at BlackRock

In other news, Director Mark Wiedman sold 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $875.03, for a total transaction of $10,500,360.00. Following the completion of the transaction, the director now directly owns 6,480 shares of the company’s stock, valued at $5,670,194.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders sold a total of 35,061 shares of company stock valued at $30,734,840 in the last ninety days. Corporate insiders own 0.90% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of BLK. Fairscale Capital LLC purchased a new stake in BlackRock in the 2nd quarter valued at about $31,000. Reston Wealth Management LLC acquired a new position in shares of BlackRock in the 3rd quarter valued at about $37,000. Chilton Capital Management LLC acquired a new position in shares of BlackRock in the 1st quarter valued at about $38,000. MFA Wealth Advisors LLC lifted its position in BlackRock by 100.0% during the 3rd quarter. MFA Wealth Advisors LLC now owns 40 shares of the asset manager’s stock worth $38,000 after acquiring an additional 20 shares in the last quarter. Finally, Addison Advisors LLC lifted its position in BlackRock by 81.5% during the 3rd quarter. Addison Advisors LLC now owns 49 shares of the asset manager’s stock worth $47,000 after acquiring an additional 22 shares in the last quarter. 80.69% of the stock is owned by hedge funds and other institutional investors.

About BlackRock

BlackRock, Inc is a publicly owned investment manager. The firm primarily provides its services to institutional, intermediary, and individual investors including corporate, public, union, and industry pension plans, insurance companies, third-party mutual funds, endowments, public institutions, governments, foundations, charities, sovereign wealth funds, corporations, official institutions, and banks.